Short sales and Foreclosure the difference and why it matters to you. In a foreclosure your credit score can be decreased by over 200 points where as a short sale your credit score may be decreased as little as 50 points. Qualifying for a shortsale means that you have to show hardship.

1. Job loss

2. Business Failure

3. Medical or illness

4. Death or divorce

5. Natural disaster

If you have liquid assets, that Lender will want you to contribute.

Short sales require substantial documentation and the Seller is responsible for gathering all supporting documents but I will be with you helping you to gather and will put it all into a short sale package to submit to the Lender when a buyer is found and a offer has been accepted.

If you would like to know more about the process e-mail me at shannonthomas@kw.com or you can call me Shannon Thomas REALTOR® 317-681-4044 at any time. Its important to get started soon if you think you won't be able to continue to make payments or you have already stopped.